Thread by @PhilForCongress

Thread - theintercept.com/2018/09/04/nan…

@RepBarbaraLee @AdyBarkan @NancyPelosi @TeamPelosi @RepMarciaFudge @SenSanders @BernieSanders @CedricRichmond @Ocasio2018 @DNCWomen @DNC @TulsiPress @TulsiGabbard @StephanieKelton @SRuhle @MMFlint #LearnMMT #MMT #FightForUS

1. I'm sorry... but we are at a critical point where we can no longer tolerate folks willfully ignoring the economics any longer. Stakes are just too damn high.
This Green New Deal we all want? It is LITERALLY only possible with MMT. Period. #PAYGO is a self inflicted gun shot

2. wound to our goals of a Green New Deal. "A new vanguard of economists in Washington, including former Bernie Sanders staffer Stephanie Kelton, has argued that under modern monetary theory, public spending is only constrained when the economy is running at full capacity

3. and inflation starts to rise — which is not remotely the case today. Public deficits, she points out, are just another way of talking about private surpluses. She has warned of the dangers of balanced budgets that take money from the hands of ordinary people, and

4. has made some headway inside Washington. Kelton has been involved in strategy sessions with Senate Democratic Leader Chuck Schumer, D-N.Y., and remains close to Sanders, who would chair the Budget Committee if Democrats take the Senate. But Pelosi has been unmoved.

5. In a statement, Kelton said that “pay-go is a self-imposed, economically illiterate approach to budgeting.” Republicans, she said, know this, which is why “they have unabashedly used their power to expand deficits and, hence, deliver windfall gains for big corporations and

6. the already well-to-do.” She continued, “Instead of vowing budget chastity, Democrats should be articulating an agenda that excites voters so that they can unleash the full power of the public purse on their behalf.”

Please Help US! Our Lives Depend on YOU, Literally ON YOU!